FirstGroup to launch additional £115m share buyback amid positive trading performance
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Aberdeen-based public transport provider FirstGroup PLC announced that its overall trading performance for the financial year to date aligns with expectations previously outlined in June.
The firm revealed this information ahead of its annual general meeting today. It also highlighted progress in its current on-market share buyback programme, revealing that it had successfully completed £70.9 million of the £75m scheme launched in December.
Once the current buyback concludes, FirstGroup plans to introduce an additional on-market share buyback programme. Subject to shareholders’ approval at the AGM, the new programme will repurchase up to £115m of ordinary shares.
FirstGroup also stated that it would disclose its interim results for the six months ending in September on November 23.
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